US Treasury Yields

Anxiety Is Building

August 23, 2019

This morning, the spread between the yields on the 10-year and 2-year Treasury bonds went negative. This situation is called “yield-curve inversion”, and it has [...]

Market Dislocations

June 7, 2018

Tuesday was a very interesting day for the bond markets. Political upheaval within two key European countries, Italy and Spain, caused a dramatic sell-off in sovereign debt [...]

Anatomy of a Correction

April 5, 2018

On Monday morning, the S&P 500 bounced off its lowest level of the year for a second time. The first bottom occurred on February 8th at a level that just barely qualified [...]

The Bond Market Reverses

May 13, 2015

In our March 25 Market Commentary, we discussed the reasons why Treasury yields kept falling in the face of some incrementally more positive economic data. We said that there [...]

Economic Ambiguity

May 5, 2012

Trying to draw a definitive conclusion about the direction of the economy is becoming increasingly difficult. The incoming economic data is ambiguous at best, which may [...]

Déjà Vu Rally

August 5, 2009

The S&P 500 bottomed out on March 9, 2009 after falling 57% from its peak in October, 2007. We sincerely hope the March low will prove to be the final bottom in this ugly [...]